Mandatory Accounting Standards - Ind AS – Extracts from Published Accounts-1

|426| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 31 March 2018 31 March 2017 1 April 2016 v. Customs 3,022 2,960 2,114 vi. Income Tax demands in Appeals 6,925 4,310 8,403 vii. Wealth Tax demands in Appeals 24 24 24 viii. Sales tax - - 13 ix. Employee State Insurance Corporation 2,999 2,999 2,999 x. IGST paid under Protest (Refer note 10) 22,015 - - xi. The Company is in receipt of favorable orders in relation to certain service tax, income tax, customs and octroi demands. However, respective tax departments have preferred an appeal against these orders before higher appellate authorities. The amounts involved (excluding interest and penalty thereon, if any, not included in such demands) in these appeals as on 31st March 2017, with respect to service tax, income tax (including FBT), customs and octroi aggregating to ` 2,32,812 Lakhs (31 March 2017 ` 209,609 Lakhs; 01 April 2016 ` 209,609), ` 2,03,331 Lakhs (31 March 2017 ` 213,225 Lakhs; 01 April 2016 ` 218,175 Lakhs), ` 5 Lakhs (31 March 2017 ` 5 Lakhs; 01 April 2016 Nil), and ` 2,899 Lakhs (31 March 2017 ` 2,899 Lakhs; 01 April 2016 ` 2,899 Lakhs), respectively are not included above as there is no outstanding demand in relation to the same. xii. The Company had acquired 100% of the shareholding of Sahara Airlines Limited (SAL) (now known as Jet Lite (India) Limited) in April 2007. As per the Share Purchase Agreement (SPA) as amended by the subsequent Consent Award, the mutually agreed sale consideration was to be paid to the Selling Shareholders Sahara India Commercial Corporation Limited (SICCL) in four equal interest free instalments by 30th March 2011. As a result of certain disputes that arose between the parties, both the parties had filed petitions in the Hon’ble Bombay High Court for breach of SPA as amended by the subsequent Consent Award. The Hon’ble Bombay High Court delivered its Judgment on 4 May 2011 whereby SICCL’s demand for restoration of the original price of ` 200,000 Lakhs was denied and the Purchase Consideration was sealed at the revised amount of ` 145,000 Lakhs. However, in its judgment, the Hon’ble Bombay High Court has awarded interest at 9% p.a. on the delayed payments made to SICCL largely on account of ongoing legal dispute. In view of this Order, a sum of ` 11,643 Lakhs became payable as interest which has been duly discharged by the Company. As a result of this discharge, the undertaking given by the Company in April 2009 for not creating any encumbrance or alienation of its moveable or immoveable assets and properties in any manner other than in the normal course of the business, stands released. Though the Company had complied with the order of the Hon’ble Bombay High Court, based on legal advice, it filed an appeal with the Division Bench of the Hon’ble Bombay High Court contesting the levy of interest. SICCL also filed an appeal with the Division Bench of the Hon’ble Bombay High Court for restoration of the purchase consideration to ` 200,000 Lakhs and for interest to be awarded at 18% p.a. as against the 9% p.a. awarded by the Hon’ble Bombay High Court. The Division Bench of the Hon’ble Bombay High Court heard the matter and vide its order dated 17 October 2011 dismissed both the appeals as being not maintainable in view of jurisdictional issue. The Company has since filed Special Leave Petitions (SLP) before the Hon’ble Supreme Court challenging both the orders of 4 May 2011 and 17 October 2011. SICCL had earlier filed a SLP before the Hon’ble Supreme Court for increased compensation and interest. Both the SLPs, filed by Jet Airways as well as SICCL, came up for hearing before the Supreme Court. The Supreme Court directed the parties to file the Counter and Rejoinder, which has since been filed. The Supreme Court also recorded that the statement made by Jet Airways, as recorded in the order dated 6 May 2011 passed by the Hon’ble Bombay High Court, would continue till further orders. The Company has filed its Counter Affidavit in the SLPs filed by SICCL and the Hon’ble Supreme Court has granted further time to SICCL to file their Rejoinder.

|427| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets xiii. Enforcement Directorate (ED) had issued a notice to Jet Lite (India) Limited [formerly known as Sahara Airlines limited (SAL)] and other officials alleging violation under section 9(1)(c) of Foreign Exchange Regulation Act’ 1973 (since repealed) for entering into an agreement in 1995 with M/s. Avions De Transport Regional, France towards purchase of 5 ATRs for an aggregate order value of USD 672 Lakhs (Equivalent to ` 41,969 Lakhs) without getting the prior approval of Reserve Bank of India. Since the agreement was never implemented, the notice has been challenged by SAL by way of writ petition in 2002 and the said notice has been stayed by the Hon’ble High Court of judicature at Allahabad, Lucknow Bench. The writ petition is still pending for final disposal. The amount of liability is unascertainable pending final adjudication of the show cause notice. xiv. Note : The Company is a party to various legal proceedings in the normal course of business and does not expect the outcome of these proceedings to have any adverse effect on its financial conditions, results of operations or cash flows. Further, claims by parties in respect of which the Management have been legally advised that the same are frivolous and not tenable, have not been considered as contingent liabilities as the possibility of an outflow of resources embodying economic benefit is highly remote. B. Commitments Particulars As at 31 March 2018 As at 31 March 2017 As at 1 April, 2016 Property, Plant and Equipment 5,250,913 3,717,602 3,798,638 TOTAL 5,250,913 3,717,602 3,798,638 For the commitment relating to Lease arrangement refer note 41. 7. KANSAI NEROLAC PAINTS LIMITED Significant Accounting Policies Provisions and Contingent Liabilities A provision is recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows (representing the best estimate of the expenditure required to settle the present obligation at the balance sheet date) at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. Expected future operating losses are not provided for. Warranties A provision for warranties is recognised when the underlying products or services are sold. The provision is based on technical evaluation, historical warranty data and a weighting of all possible outcomes by their associated probabilities. Restructuring A provision for restructuring is recognised when the Group has approved a detailed formal restructuring plan, and the restructuring either has commenced or has been announced publicly. Onerous contracts A contract is considered to be onerous when the expected economic benefits to be derived by the Group from the contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision for an onerous contract is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before such a provision is made, the Group recognises any impairment loss on the assets associated with that contract.

|428| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Disclosures Note 35: Contingent Liabilities and commitments (to the extent not provided for) ` in Crores Year ended 31st March, 2019 Year ended 31st March, 2018 A. Claims against the Company not acknowledged as debt: Excise and Service Tax 8.70 7.29 Sales Tax 14.57 — Income Tax 2.56 — The Group has made adequate provisions in the accounts for claims against the Group related to direct and indirect taxes matters, except for certain claims not acknowledged as debts, totaling to ` 8.70 Crores (2017-2018 `7.29 Crores) from the Excise/Service Tax Authorities, in respect of disallowance of Excise/Service Tax Cenvat Credit. In addition, the Group is subject to other legal proceedings in respect of other matters arisen in the ordinary course of business. The Group’s management is of the opinion that ultimate liability in respect of these litigations shall not exceed the amount provided in books of account, and shall not have any material adverse effect on the Group’s operation and financial position. B. Commitments: Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of advances) 123.57 152.21 C. Corporate guarantee Corporate guarantee given to Bank for employee loans 2.55 2.55 Corporate guarantee given to Bank for loan taken by Kansai Paints Lanka (Private) Limited – Subsidiary Company 13.85 — D. Others Commitment Unexpired Letter of Credit 6.17 — Bank Guarantee 0.07 — 172.04 162.05 E. Contribution to Provident Fund as per Supreme Court Judgment The Hon’ble Supreme Court of India (“SC”) by their order dated February 28, 2019, in the case of Surya Roshani Limited & others v/s EPFO, set out the principles based on which allowances paid to the employees should be identified for inclusion in basic wages for the purposes of computation of Provident Fund contribution. Subsequently, a review petition against this decision has been filed and is pending before the SC for disposal. In view of the management, the liability for the period from date of the SC order to 31 March 2019 is not significant. Further, the pending decision on the subject review petition and directions from the EPFO, the impact for the past period, if any, is not ascertainable and consequently no effect has been given in the accounts. 8. KPIT TECHNOLOGIES LIMITED The Group recognizes provisions only when it has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

|429| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. No provision is recognized for – I. Any possible obligation that arises from past events and the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Group; or II. Present obligations that arise from past events but are not recognized because- • It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or • A reliable estimate of the amount of obligation cannot be made. Such obligations are disclosed as contingent liabilities. These are assessed continually and only that part of the obligation for which an outflow of resources embodying economic benefits is probable, is provided for, except in the extremely rare circumstances where no reliable estimate can be made. Contingent assets are not recognized in the consolidated financial statements since this may result in the recognition of income that may never be realized. Provisions for onerous contracts are recognized when the expected benefits to be derived by the Group from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established the Group recognizes any impairment loss on the assets associated with that contract. Warranty The Group has an obligation by way of warranty to maintain the software during the period of warranty, as per the contractual requirements, for certain products/licenses. Costs associated with such sale are accrued at the time when related revenues are recorded and included in cost of service delivery. The Group estimates such cost based on historical experience and the estimates are reviewed periodically for material changes in the assumptions. 9. LARSEN AND TOUBRO INFRASTRUCTURE LIMITED a) Significant Accounting Policies Provisions are recognised only when: • the Group entity has a present obligation (legal or constructive) as a result of a past event; and • it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and • a reliable estimate can be made of the amount of the obligation Provision is measured using the cash flows estimated to settle the present obligation and when the effect of time value of money is material, the carrying amount of the provision is the present value of those cash flows. Reimbursement expected in respect of expenditure required to settle a provision is recognised only when it is virtually certain that the reimbursement will be received. Contingent liability is disclosed in case of: • a present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the obligation; and • a present obligation arising from past events, when no reliable estimate is possible. Contingent assets are disclosed where an inflow of economic benefits is probable. Provisions, contingent liabilities and contingent assets are reviewed at each Balance sheet date.

|430| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Where the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under such contract, the present obligation under the contract is recognised and measured as a provision Note [53] Disclosure pursuant to Ind AS 37 “Provisions, Contingent Liabilities and Contingent Assets” (a) Movement in provisions: ` crore Sr. No. Particulars Class of provisions Product warranties Expected tax liability in respect of indirect taxes Litigation related obligations Contractual rectification costConstruction contracts Provision towards constructive obligation Others* Total 1 Balance as at 1-4-2018 45.09 210.39 9.15 374.62 458.24 76.39 1173.88 2 Additional provision during the year 37.04 41.33 50.00 429.59 136.17 2.61 696.74 3 Provision used during the year (21.74) (4.13) – – – (58.78) (84.65) 4 Unused provision reversed during the period (4.22) (4.04) – (276.39) – (16.50) (301.15) 5 Translation adjustments 6.91 – – 5.03 – 23.73 35.67 6 Additional provision for unwinding of interest and change in discount rate 0.63 – 0.38 – – – 1.01 7 Balance as at 31-3-2019 (1 to 6) 63.71 243.55 59.53 532.85 594.41 27.45 1521.50 * includes liquidated damages/backwork charges adjusted against revenue/manufacturing, construction and operating expenses during the year. Break up of provisions: ` crore Particulars Note 24 Note 31 Total Balance as at 1-4-2018 0.93 1172.95 1173.88 Balance as at 31-3-2019 7.73 1513.77 1521.50 (b) Nature of provisions: (i) Product warranties: The Group gives warranties on certain products and services, undertaking to repair or replace the items that fail to perform satisfactorily during the warranty period. Provision made as at March 31, 2019 represents the amount of the expected cost of meeting such obligations of rectification/replacement. The timing of the outflows is expected to be within a period of five years from the date of Balance Sheet. (ii) Expected tax liability in respect of indirect taxes represents mainly the differential sales tax liability on account of non-collection of declaration forms for the period prior to five years.

|431| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets (iii) Provision for litigation related obligations represents liabilities that are expected to materialise in respect of matters in appeal. (iv) Contractual rectification cost represents the estimated cost the Group is likely to incur during defect liability period as per the contract obligations in respect of completed construction contracts accounted under Ind AS 115 “Revenue from contracts with customers”. (v) Constructive obligation represents losses absorbed by the group in a joint venture over and above the investments. (c) Disclosure in respect of contingent liabilities is given in Note 32. Note [32] Contingent Liabilities Particulars As at 31-3-2019 As at 31-3-2018 ` crore ` crore a) Claims against the Group not acknowledged as debts 3354.54 3386.98 b) Sales tax liability that may arise in respect of matters in appeal 257.37 248.74 c) Excise duty / Service Tax / Custom duty / Entry Tax / Stamp duty / Municipal Cess liability that may arise, including those in respect of matters in appeal/challenged by the Group in WRIT 382.62 362.11 d) Income Tax liability (including penalty) that may arise in respect of which the Group is in appeal 952.17 692.12 e) Guarantees or Letter of credit or letter of comfort given to third parties 2594.98 2824.15 f) Corporate guarantees for debt given on behalf of joint ventures 427.31 479.55 g) Bank guarantees given on behalf of joint venture(s) 28.93 28.79 h) Contingent Liabilities incurred in relation to interest in joint operations 7586.12 7267.96 i) Share in contingent liabilities of joint operations for which the Group is contingently liable 84.92 139.20 j) Contingent liabilities in respect of liabilities of other joint operators in respect of joint operations 7187.07 6576.16 k) Share of contingent liabilities incurred jointly with other investors of the associate(s) 122.15 116.20 l) Share of joint ventures’ contingent liabilities in respect of legal claim(s) lodged against the entity 240.08 694.32 Notes: (i) The Group expects reimbursements of ` 9.30 crore (previous year: ` 97.67 crore) in respect of the above contingent liabilities. (ii) It is not practicable to estimate the timing of cash outflows, if any, in respect of matters at (a) to (d) above pending resolution of the arbitration/appellate proceedings. Further, the liability mentioned in (a) to (d) above excludes interest and penalty in cases where the Group has determined that the possibility of such levy is remote. (iii) In respect of matters at (e), the cash flows, if any, could occur any time during the subsistence of the underlying agreement. (iv) In respect of matters at (f), the cash outflows, if any, could generally occur up to ten years, being the period over which the validity of the guarantees extends except in a few cases where the cash outflows, if any, could occur any time during the subsistence of the borrowing to which the guarantees relate.

|432| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (v) In respect of matters at (g), the cash outflows, if any, could generally occur up to three years, being the period over which the validity of the guarantees extends. (vi) In respect of matters at (h) to (j), the cash outflows, if any, could generally occur upto completion of projects undertaken by the respective joint operations. (vii) In respect of matters at (k) and (l), the cash outflows, in any, could generally occur any time up to settlement of claims or during subsistence of the underlying agreements. Note [33] Commitments Particulars As at 31-3-2019 As at 31-3-2018 ` crore ` crore (i) Estimated amount of contracts remaining to be executed for capital account of Property, plant & equipment (net of advances) 825.18 836.78 (ii) Estimated amount of contracts remaining to be executed for Intangible Assets 929.85 2075.57 (iii) Estimated amount of contracts remaining to be executed for Investment property 183.83 409.74 (iv) Commitments to provide funding for joint venture’s capital commitments, if called 42.87 116.85 (v) Funding committed by way of equity (including investment through purchase of investments from other parties*) to other companies 10732.85 – * The Company has entered into a definitive share purchase agreement to acquire 20.32% stake in Mindtree Limited on March 18, 2019 at a price of R 980 per share aggregating to consideration of ` 3269.00 crore. Further, the Company has placed a purchase order with its stock broker for acquiring 15% stake through on-market purchases for an overall consideration amount not exceeding ` 2434.00 crore from any recognised stock exchange, but only after receipt of relevant approvals from regulatory authorities. The Company will also make an open offer to acquire 31% stake for a consideration of ` 5029.85 crore in accordance with the requirements of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The completion of these transactions are subject to receipt of necessary regulatory approvals. Subsequent to March 31, 2019 and up to May 9,2019, the Company acquired 4,25,90,088 equity shares of Mindtree Limited (representing 25.94% of the share capital of that company) at a cost of ` 4180.91 crore through block deal purchase from major shareholder (and his associate entities) and on- market purchases. 10. MAHINDRA LIFESPACE DEVELOPERS LIMITED a) Significant Accounting Policies 2.21 Provisions and contingent liabilities 2.21.1 Provisions Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

|433| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably. Provisions and contingent liabilities are reviewed at each Balance Sheet date. 2.21.2 Onerous contracts Present obligations arising under onerous contracts are recognised and measured as provisions. An onerous contract is considered to exist where the Group has a contract under which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received from the contract. 2.21.3 Contingent liabilities Contingent liability is disclosed in case of: a) a present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the obligation; and b) a present obligation arising from past events, when no reliable estimate is possible. 42 - Contingent liabilities and commitments (` in lakh) Particulars As at 31 March, 2019 As at 31 March, 2018 (a) Claims against the Group not acknowledged as debts (i) Claims awarded by the Arbitrator to a civil contractor in respect of a project at Mumbai and the Company’s appeal against the award has been admitted by the Mumbai High Court 93.89 93.89 (ii) Demand from local authorities for transfer fees on transfer of property, disputed by the Company 123.99 123.99 (iii) Demand from a local authority for energy dues disputed by the Company. 2,164.04 2,164.04 (iv) Claim from welfare association in connection with project work, disputed by the Company 4,500.00 4,500.00 (v) Shahri Jamabandi (Urban Assessment/Ground rent demanded by Jaipur Development Authority, Government of Rajasthan) 23,812.75 23,812.75 Note : The above amount is based on demand raised, which the Company is contesting with the concerned authorities. Outflows, if any, arising out of this claim would depend on the outcome of the decision of the appellate authorities and Company’s rights for future appeals. No reimbursements are expected. (vi) Claim received from vendor 175.00 - (b) Tax Matter under appeal (i) Income Tax Demands against the Group not acknowledged as debts and not provided for, relating to issues of deductibility and taxability in respect of which the Group is in appeal and exclusive of the effect of similar matters in respect of assessments remaining to be completed. 2,467.71 1,799.17

|434| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars As at 31 March, 2019 As at 31 March, 2018 (ii) Indirect Tax VAT, Service Tax and Entry Tax claims disputed by the Company relating to issues of applicability and interest on demand. Company is pursuing the matter with the appropriate Appellate Authorities. 1,106.74 864.33 (c) Guarantee/Counter guarantee given 1,800.00 1,800.00 45 - Capital Commitments (` in lakh) Commitments As at 31st March, 2019 As at 31st March, 2018 Capital Commitment : Estimated value of contracts remaining to be executed on capital account and not provided for (net of advances) 22.19 30.57 11. OIL AND NATURAL GAS CORPORATION LIMITED Accounting Policies 3.17 Decommissioning costs Decommissioning cost includes cost of restoration. Provision for decommissioning costs are recognized when the Group has a legal or constructive obligation to plug and abandon a well, dismantle and remove a facility or an item of Property, Plant and Equipment and to restore the site on which it is located. The full eventual estimated provision towards costs relating to dismantling, abandoning and restoring well sites and allied facilities are recognized in respective assets when the well is complete / facilities or Property, Plant and Equipment are installed. The amount recognized is the present value of the estimated future expenditure determined using existing technology at current prices and escalated using appropriate inflation rate till the expected date of decommissioning and discounted up to the reporting date using the appropriate risk free discount rate. An amount equivalent to the decommissioning provision is recognized along with the cost of exploratory well or Property, Plant and Equipment. The decommissioning cost in respect of dry well is expensed as exploratory well cost. Any change in the present value of the estimated decommissioning provision other than the periodic unwinding of discount is adjusted to the decommissioning provision and the corresponding carrying value of the related asset. In case reversal of decommissioning provision exceeds the corresponding carrying amount of the related asset, the excess amount is recognized in the Consolidated Statement of Profit and Loss. The unwinding of discount on provision is charged in the Consolidated Statement of Profit and Loss as finance cost. Provision for decommissioning cost in respect of assets under Joint Operations is considered as per participating interest of the Group on the basis of estimate approved by the respective operating committee. Wherever the same are not approved by the respective operating committee abandonment cost estimates of the company are considered 3.30 Provisions, Contingent Liabilities and Contingent Assets Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation,

|435| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). Contingent assets are disclosed in the Consolidated Financial Statements by way of notes to accounts when an inflow of economic benefits is probable. Contingent liabilities are disclosed in the Consolidated Financial Statements by way of notes to accounts, unless possibility of an outflow of resources embodying economic benefit is remote. Disclosures 30. Provisions (` in million) Particulars As at March 31, 2019 As at March 31, 2018 Non Current Current Non Current Current Provision for Employee benefits (Refer note 46) For Post Retirement Medical & Terminal Benefits 44,140.53 8,323.95 37,649.65 9,457.66 Unavailed Leave and compensated absenses 663.22 12,547.94 387.84 9,365.80 Gratuity for Regular Employees 69.01 106.17 36.68 3,571.36 Gratuity for Contingent Employees 91.00 9.22 63.68 8.67 Provision for Others Provision for decommissioning (Refer note 30.4) 233,534.12 6,305.59 213,862.93 6,365.95 Other Provisions (Refer note 30.1 and 30.2) 0.75 15,899.46 0.72 15,329.70 Total provisions 278,498.63 43,192.33 252,001.50 44,099.14 30.1 In respect of subsidiary MRPL, other provisions include provision for excise duty on closing stock. The company estimates provision based on substantial degree of estimation for excise duty payable on clearance of goods lying in stock as on March 31, 2019 of ` 4,531.29 million (as at March 31, 2018 of ` 3,993.55 million). This provision is expected to be settled when the goods remove from the factory premises. 30.2 In respect of subsidiary OVL, other provision includes provision for minimum work program commitment as on March 31, 2019 of ` 1,730.25 million which is in respect of Area 43 (as at March 31, 2018 of ` 1,681.43 million created in respect of Area 43, Libya and Block Satpayev, Kazakshtan). 30.3 Movement of Provision for Others (` in million) Particulars Provision for decommissioning Other Provisions Year ended March 31, 2019 Year ended March 31, 2018 Year ended March 31, 2019 Year ended March 31, 2018 Balance at beginning of the year 220,228.88 193,598.02 15,330.42 12,583.65 Recognized during the year 9,950.35 8,094.20 5,230.87 5,610.01 Amount used during the year (892.06) (257.44) (3,993.55) (2,797.68) Unwinding of discount 13,718.93 11,780.57 - - Write back during the year (3,721.18) (2,035.64) (809.43) (237.71) Effect of remeasurement / reclassification (917.10) 8,734.51 - 138.63 Effect of exchange difference 1,471.89 314.66 141.90 33.52 Balance at end of the year 239,839.71 220,228.88 15,900.21 15,330.42

|436| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 30.4 The Group estimates provision for decommissioning as per the principles of Ind AS 37 ‘Provisions, Contingent Liabilities and Contingent Assets’ for the future decommissioning of Oil & Gas assets at the end of their economic lives. Most of these decommissioning activities would be in the future for which the exact requirements that may have to be met when the removal events occur are uncertain. Technologies and costs for decommissioning are constantly changing. The timing and amounts of future cash flows are subject to significant uncertainty. The economic life of the Oil & Gas assets is estimated on the basis of long term production profile of the relevant Oil & Gas asset. The timing and amount of future expenditures are reviewed annually, together with rate of inflation for escalation of current cost estimates and the interest rate used in discounting the cash flows. 30.5 In respect of subsidiary company OVL, Represents exchange difference on account of translation of the financial statements from functional currency to presentation currency. Refer note 3.21 and 5.1(a). 30.6 In respect of subsidiary HPCL, Loans given to consumer under Prime Ministers Ujjwala Yojna (PMUY) disbursed to the extent of ` 25,910 millions and outstanding ` 19,370 millions are repayable out of the subsidy amount accruing to the consumer from the subsequent refills taken post release of the loan. The overall consumer base being 19.10 million, the utilization pattern of the refills is evolving and there are cases of consumers since May 2016 having availed lesser than expected level of refills. While the management has made efforts to encourage the consumers for availing the refills, the cases with zero refills for those connections issued on or before March 31, 2018 have been considered as inactive consumers and the ratio of such loans over the total loans disbursed till March 31,2018 has been estimated to be a likely default ratio for such loans and accordingly an impairment charge of ` 957 million have been recognized in the financial statements towards such loans. In the opinion of the management, the impairment estimate made on a rationale represent estimate of default in the entire population of the outstanding loans and hence is reasonable as on the date of the Financial statements. 30.7 In respect of subsidiary HPCL, the company operates various schemes of Government of India e.g. PMUY, Direct benefit Transfer scheme and certain state specific schemes where the amounts spent for the implementation of such schemes are either received in advance or are subject to reimbursements from Central Government and/or respective state Governments. There are cases where such reimbursements are pending to be received from Central Government with period ranging from more than 6 months to more than 3 years. The total such reimbursements remaining to be received for more than 6 months’ amount to ` 27,810 million. However, since these dues are considered as sovereign dues, no provision has been considered necessary. Disclosures 55. Contingent liabilities, Contingent Assets and commitments (to the extent not provided for) 55.1 Contingent Liabilities: Claims / disputes not acknowledged as debt:- (` in million) S. No. Particular As at March 31,2019 As at March 31,2018 I In respect of Group Income tax 147,742.22 112,875.17 Excise Duty 13,714.02 19,049.78 Custom Duty 1,955.82 1,231.54 Royalty (Note 55.1.2) 612.88 496.82 Cess 6.57 6.57 Sales Tax 47,043.21 42,235.52 Octroi and other Municipal Taxes 66.89 66.89 AP Mineral Bearing Land (Infrastructure) Cess 3,117.08 2,909.76 Specified Land Tax (Assam) 5,199.72 4,865.55

|437| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets S. No. Particular As at March 31,2019 As at March 31,2018 Claims of contractors in Arbitration/Court. 196,206.03 155,231.18 Service Tax 48,497.36 29,249.72 GST 37,956.78 14,315.98 Employees Provident Fund 66.35 66.35 Other Matters 184,168.99 168,715.22 Sub Total ( A ) 686,353.90 551,316.04 II In respect of Joint Ventures and Associates Income tax 83.37 579.45 Excise Duty 715.68 847.55 Custom Duty 116.97 116.97 Sales Tax 2,562.33 2,360.92 Service Tax 81.09 214.42 GST - - Claims of contractors in Arbitration/Court. 2,059.36 456.89 Other 2,819.00 4,064.95 Sub Total ( B ) 8,437.80 8,641.14 Total ( A+B ) 694,791.71 559,957.18 55.1.1 The Group’s pending litigations comprise claims against the Group and proceedings pending with Tax/Statutory/Government Authorities. After review of all its pending litigations and proceedings, the Company has made adequate provisions, wherever required and disclosed the contingent liabilities, wherever applicable, in its financial statements. The Group does not expect the outcome of these proceedings to have a material impact on its financial position. Future cash outflows in respect of the above are determinable only on receipt of judgments/ decisions pending with various forums/ authorities. 55.1.2 The Company had received demand orders from Service Tax Department at various work centres on account of Service Tax on Royalty, appeals against such orders have been filed before Tribunal. The Company had also obtained legal opinion as per which the Service Tax/GST on Royalty is not applicable. Meanwhile, the Company also received demand order dated January 1, 2019 on account of GST on Royalty in the State of Rajasthan against which the Company filed writ (4919/2019) before Hon’ble HC of Rajasthan. The Hon’ble HC of Rajasthan heard the matter on April 3, 2019 and issued notice to Department with a direction that no coercive action shall be taken against the Company for recovery till next date of hearing on April 16, 2019 deferred to May 9, 2019 and further deferred to July 16, 2019. The Company also filed writ of mandamus before Hon’ble HC of Madras seeking stay on the levy of GST on royalty. The Hon’ble HC of Madras heard the matter on April 3, 2019 and the Department has been allowed to file counter and to finalize the representation (under-protest letter) given by Company to the Department. The total estimated amount (including penalty and interest up to March 31, 2019) works out towards Service Tax is ` 38,616.33 million and GST is ` 37,956.77 million. Since the Company is contesting the demand, it has been considered as contingent liability. Further, as an abundant caution, the Company has deposited Service Tax and GST along-with interest underprotest amounting to ` 13,725.72 million and ` 28,065.77 million respectively. 55.1.3 The Company, with 40% Participating Interest (PI), is a Joint Operator in Panna-Mukta and Mid and South Tapti Fields alongwith Reliance Industries Limited (RIL) and BG Exploration and Production India Limited (BGEPIL) each having 30% PI, (all three together referred to as “Contractors”) signed two Production sharing Contracts (PSCs) with Government of India (Union of India) on December 22, 1994 for a period of 25 years. In December 2010, RIL & BGEPIL (JV Partners) invoked an international arbitration proceeding against the Union of India in respect of certain disputes, differences and claims arising out of and in connection with both the PSCs pursuant to the provisions of Article 33 of the PSCs and UNCITRAL Rules, 1976. The Ministry of Petroleum and Natural Gas (MoP&NG), vide their

|438| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts letter dated July 4, 2011, had directed the Company not to participate in the arbitration initiated by the JV Partners. MoP&NG has also stated that in case of an arbitral award, the same will be applicable to the Company also as a constituent of the contractor for both the PSCs. Directorate General of Hydrocarbons (DGH), vide letters dated May 25, 2017 has informed the Company that on October 12, 2016, a Final Partial Award (FPA) was pronounced by the Tribunal in the said arbitrations. However, details of proceedings of the FPA are not available with the Company. DGH, vide their letter dated May 25, 2017 and 4th June 2018, marked to the Contractors, has directed the payment of differential Government of India share of Profit Petroleum and Royalty alleged to be payable by Contractors pursuant to Governments interpretation of the FPA (40% share of the Company amounting to US$ 1,624.05 million, including interest upto November 30, 2016) equivalent to ` 112,400.50 million @ ` 69.21 (closing rate as on March 31, 2019). In response to the letters of DGH, the JV partners (with a copy marked to all Joint Venture Partners) have stated that demand of DGH is premature as the FPA does not make any money award in favour of Government of India, since quantification of liabilities are to be determined during the final proceedings of the arbitration. Further the award has also been challenged before the English Commercial Court (London High Court). Based on the above facts, the Company has also responded to the letters of DGH stating that pending the finality of the order, the amount due and payable by the Company is not quantifiable. In the view of the Company, any changes approved, if any, for increase in the Cost Recovery Limit (CRL) by the Management Committee (MC) as per the term of the PSCs the liability to DGH would potentially reduce. The English Court has delivered its final verdict on May 2, 2018 following which the Arbitral Tribunal reconsidered some of its earlier findings from the 2016 FPA (Revised Award). The Government of India, BGEPIL and RIL have challenged parts of the Revised Award. In January 2018 the Company along with the JV partners has filed an application with MC for increase in CRL in terms of the PSCs. The application has been rejected by MC. Pursuant to the rejection, the JV partners have filed a claim with Arbitral Tribunal. DGH vide letter dated January 14, 2019 has advised to the contractors to re-cast the accounts for Panna-Mukta and Mid and South Tapti Fields for the year 2017-18. Pending finalization of the decision of the Arbitral Tribunal, the JV partners and the Company have indicated in their letters to DGH that the final recasting of the accounts is premature and the issues raised by DGH may be kept in abeyance. Pending finality by Arbitration Tribunal on various issues raised above, re-casting of the financial statements and final quantification of liabilities, no provision has been accounted in the financial statements. The demand raised by DGH, amounting to US$ 1624.05 million equivalent to ` 112,400.50 million has been considered as contingent liability. 55.1.4 In respect of subsidiary, OVL A show cause notice of ` 1.04 million (including cess) (previous year : ` 1.04 million) has been received for the period April 1, 2015 to June 30, 2017 for non-payment of Service Tax on ‘’Legal Services’’ under reverse charge mechanism. The Company is of the view that service tax is not payable and contesting the same. Moreover, the Supreme Court has stayed the operation of the Bombay High Court order which has upheld the applicability of service tax on legal representational services. The Service Tax Department had issued a demand cum show-cause notice dated October 11, 2011 requiring the Company to show cause why service tax amounting to `28,163.14 million (including Education Cess and SHE cess) (previous year : ` 28,163.14 million), the interest on such amount and penalty should not be demanded and recovered from the Company. Service Tax Department has calculated these tax amounts based on foreign currency expenditure reported in the Company’s financial statements covering the reporting periods from April 1, 2006 to December 31, 2010 and contending that these expenses represent business auxiliary services rendered by the Company’s foreign branches and operator of the Joint Venture/ Consortium to the Company. Subsequently, five more

|439| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets demand-cum-show cause notices have been issued based on similar contentions covering the period up to March 31, 2015 to show cause why service tax amounting to ` 32,863.61 million (including Education cess and SHE cess) (previous year : ` 32,863.61 million), the interest on such amount and penalty should not be demanded and recovered from the Company. A demand-cum-show cause notice has been issued based on similar contentions covering the period April 1, 2015 to March 31, 2017 to show cause why service tax amounting to ` 15,633.22 million (including Education cess and SHE cess) (previous year : ` 15,633.22 million), the interest on such amount and penalty should not be demanded and recovered from the Company. In the assessment of the management based on independent and competent legal opinion obtained during the year and other attendant factors including circular no. 35/9/2018-GST dated March 05, 2018 issued by Central Board of Excise and Customs, the possibility of the success of the Company’s position is extremely high and the possibility of the success of contentions of the Department is very low. Since the chances of payability of the service tax itself have been evaluated by the management as being remote/very low, the chances of assessment of interest and penalty are evaluated to be much lower. Accordingly, the amounts covered by the abovementioned show-cause notices (i.e. tax amount as well as potential interest and penalty thereon) are not considered as contingent liability in accordance with the applicable accounting standards. Further, according to the legal opinion obtained by the Company, a show-cause notice in itself does not qualify as a demand and the chance of the claim being payable by the Company is remote as the Company has a very good case to argue and succeed before the concerned authorities based on the legal position as on date. 55.1.5 In respect of subsidiary, PMHBL, In the following cases of claims against the company, no reliable estimate could be made of the liability: (a) Writ Petition case filed by land owners against PMHBL at Hon’ble High Court of Karnataka, Bangalore for enhancement of compensation against order of Hasan District Court. (b) Four cases filed by Land owners at Mangalore District Court for enhancement of Compensation. (c) One writ Petition filed by by the Land owner in the High Court of Karnataka, Bangalore against the order of Chikkamangalure District Court for enhancement of Compensation. 55.2 Contingent asset A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. During the normal course of business, several unresolved claims are currently outstanding. The inflow of economic benefits, in respect of such claims cannot be measured due to uncertainties that surround the related events and circumstances. In respect of subsidiary, OVL,contingent assets represent interest in respect of carried finance in respect of exploratory and development assets that would be recognised on certainty of receipt, the details of the same are mentioned below: (` in million) Particulars As of March 31, 2019 As of March 31, 2018 Contingent Asset 619.82 364.45 12. SADBHAV ENGINEERING LIMITED a) Significant Accounting Policies General Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle

|440| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts the obligation and a reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of profit or loss, net of reimbursements, if any. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. Provision are reviewed at each balance sheet and adjusted to reflect the current best estimates. Contractual obligation to restore the infrastructure to a specified level of serviceability The Group has contractual obligations to maintain the road / infrastructure to a specified level of serviceability or restore the road / infrastructure to a specified condition before it is handed over to the grantor of the Concession Agreements. Such obligations are measured at the best estimate of the expenditure that would be required to settle the obligation at the balance sheet date. In case of intangible assets, the timing and amount of such cost are estimated and determined by estimated cash flows, expected to be incurred in the year of overlay. Such costs are recognised by charging it to revenue on the basis of units of usage method i.e. on the number of vehicles expected to use the project facility, over the period at the end of which the overlay is estimated to be carried out based on management estimates. Contingent liabilities A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Group or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Group does not recognize a contingent liability but discloses its existence in the financial statements. Contingent liabilities are reviewed at each balance sheet date. 13. SUN PHARMACEUTICAL INDUSTRIES LIMITED Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of obligation. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is certain. The expense relating to a provision is presented in the consolidated statement of profit and loss net of any reimbursement. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. Restructuring A provision for restructuring is recognised when the Group has a detailed formal restructuring plan and has raised a valid expectation in those affected that it will carry out the restructuring by starting to implement the plan or announcing its main features to those affected by it. The measurement of a restructuring provision includes only the direct expenditure arising from the restructuring, which are those amounts that are both necessarily entailed by the restructuring and not associated with the ongoing activities of the entity. Onerous contracts Present obligations arising under onerous contracts are recognised and measured as provisions. An onerous contract is considered to exist where the Group has a contract under which the unavoidable costs of meeting the obligations under the contract exceed the economic benefit expected to be received from the contract.

|441| Chap. 18 – Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets Contingent liabilities and contingent assets Contingent liability is disclosed for, (i) Possible obligations which will be confirmed only by future events not wholly within the control of the Company, or (ii) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made. Contingent assets are not recognised in the consolidated financial statements. 14. TATA CONSULTANCY SERVICES LIMITED a) Significant accounting policies Provisions and contingent liabilities A provision is recognised when the Group has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Group or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent assets are neither recognised nor disclosed in the financial statements. b) Notes to Accounts 33) Commitments and contingent liabilities Capital commitments The Group has contractually committed (net of advances) ` 1,289 crore and ` 783 crore as at March 31, 2019 and 2018, respectively, for purchase of property, plant and equipment. Contingencies Direct tax matters Deferred tax liability on temporary differences of INR 8,456 crore as at March 31, 2019, associated with investments in subsidiaries, has not been recognised, as it is the intention of Tata Consultancy Services Limited to reinvest the earnings of these subsidiaries for the foreseeable future. The Company and its subsidiaries have ongoing disputes with income tax authorities in India and in some of the jurisdictions where they operate. The disputes relate to tax treatment of certain expenses claimed as deductions, computation or eligibility of tax incentives or allowances, and characterisation of fees for services received. The Company and its subsidiaries have contingent liability of INR 1,504 crore and ` 5,639 crore as at March 31, 2019 and 2018, respectively, in respect of tax demands which are being contested by the Company and its subsidiaries based on the management evaluation and advice of tax consultants. In respect of tax contingencies of INR 318 crore and INR 318 crore as at March 31, 2019 and 2018, respectively, not included above, the Company is entitled to an indemnification from the seller of TCS e-Serve Limited. The Group periodically receives notices and inquiries from income tax authorities related to the Group's operations in the jurisdictions it operates in. The Group has evaluated these notices and inquiries and has concluded that any consequent income tax claims or demands by the income tax authorities will not succeed on ultimate resolution. The number of years that are subject to tax assessments varies depending on tax jurisdiction. The major tax jurisdictions of Tata Consultancy Services Limited include India, United States of America and United

|442| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Kingdom. In India, tax filings from fiscal 2016 are generally subject to examination by the tax authorities. In United States of America, the federal statute of limitation applies to fiscals 2015 and earlier and applicable state statutes of limitation vary by state. In United Kingdom, the statute of limitation generally applies to fiscal 2016 and earlier. Indirect tax matters The Company and its subsidiaries have ongoing disputes with Indian tax authorities mainly relating to treatment of characterisation and classification of certain items. The Company and its subsidiaries in India have demands amounting to ` 392 crore and ` 305 crore as at March 31, 2019 and 2018, respectively from various indirect tax authorities which are being contested by the Company and its subsidiaries based on the management evaluation and advice of tax consultants. Other claims Claims aggregating ` 3,227 crore and ` 3,000 crore as at March 31, 2019 and 2018, respectively, against the Group have not been acknowledged as debts. In October 2014, Epic Systems Corporation (referred to as Epic) filed a legal claim against the Company in the Court of Western District Madison, Wisconsin for alleged infringement of Epic’s proprietary information. In April 2016, the Company received an unfavourable jury verdict awarding damages totalling ` 6,499 crore (US $ 940 million) to Epic. In September 2017, the Company received a Court order reducing the damages from ` 6,499 crore (US $ 940 million) to ` 2,904 crore (US $ 420 million) to Epic. Pursuant to US Court procedures, a Letter of Credit has been made available to Epic for ` 3,042 crore (US $ 440 million) as financial security in order to stay execution of the judgment pending post-judgment proceedings and appeal. Pursuant to reaffirmation of the court order in March 2019, the Company has filed a notice of appeal in the superior Court to fully set aside the Order. The Company has received legal advice to the effect that the order and the reduced damages awarded are not supported by evidence presented during the trial. Accordingly, an amount of ` 3,042 crore (US $ 440 million) is disclosed as contingent liability which is included in the claims not acknowledged as debts. Letter of comfort The Company has given letter of comfort to bank for credit facilities availed by its subsidiary Tata America International Corporation. As per the terms of letter of comfort, the Company undertakes not to divest its ownership interest directly or indirectly in the subsidiary and provide such managerial, technical and financial assistance to ensure continued successful operations of the subsidiary. The amounts assessed as contingent liability do not include interest that could be claimed by counter parties. ll

|443| Chap. 19 – Ind AS 38 – Intangible Assets Chapter 19 Ind AS 38 – Intangible Assets 1. ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value on the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in the statement of profit and loss unless such expenditure forms part of carrying value of another asset. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the consolidated statement of profit and loss when the asset is derecognised. A summary of the policies applied to the Group’s intangible assets is, as follows: Intangible Assets Method of Amortisation Estimated Useful life Software applications on straight line basis 5 Years based on management estimate License Fees paid to Ministry of Railway (MOR) for approval for movement of Container Trains on straight line basis Over the license period of 20 years Right to Use of Land on straight line basis Over the period of agreement between 10-20 years Right of use to develop and operate the port facilities on straight line basis Over the balance period of Sub-Concession Agreement License on straight line basis 35 Years based on validity of license Port concession rights arising from Service Concession/ Sub-Concession Arrangements The Group recognises port concession rights as “Port Infrastructure Rights” under “Intangible Assets” arising from a service concession arrangement, in which the grantor controls or regulates the services provided and the prices charged, and also controls any significant residual interest in the infrastructure such as property,

|444| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts plant and equipment, if the infrastructure is existing infrastructure of the grantor or the infrastructure is constructed or purchased by the Group as part of the service concession arrangement. Such an intangible asset is recognised by the Group at cost (which is the fair value of the consideration received or receivable for the construction service delivered) and is capitalised when the project is complete in all respects and the Group receives the completion certificate from the authorities as specified in the concession agreement. Port concession rights also include certain property, plant and equipment which are reclassified as intangible assets in accordance with Appendix A of Ind AS 11 ‘Service Concession Arrangements’. These assets are amortised based on the lower of their useful lives or concession period. Gains or losses arising from de-recognition of port concession rights are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the consolidated statement of profit or loss when the asset is de-recognised. The estimated period of port concession arrangements are of 30 years. Service Concession Arrangements in respect of Agri Logistics Business The subsidiary companies have entered into service concession agreement with Food Corporation Of India (FCI) which is an arrangement between the “grantor” (a public sector entity/authority) and the “operator” (a private sector entity) to provide services that give the public access to major economic and social facilities utilizing private-sector funds and expertise. With respect to SCA, revenue and costs are allocated between those relating to construction services and those relating to operation and maintenance services, and are accounted for separately. Consideration received or receivable is allocated by reference to the relative fair value of services delivered when the amounts are separately identifiable. The infrastructure used in a concession are classified as an intangible asset or a financial asset, depending on the nature of the payment entitlements established in the SCA. When the amount of consideration under the arrangement for the provision of public services is substantially fixed by a contract, the Group recognizes the consideration for construction services at its fair value as a financial asset and is classified as “financial asset under service concession arrangements”. When the amount of consideration under the arrangement comprises – - fixed charges based on Annual Guaranteed Tonnage and - variable charges based on Actual Utilization Tonnage then, the Group recognizes the consideration for construction services at its fair value, as the “financial asset under service concession arrangement” to the extent present value of fixed payment to be received discounted at incremental borrowing rate and the residual portion is recognized as an intangible asset. 2. ALL CARGO LOGISTICS LIMITED Significant Accounting Policies Intangible Assets Intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Amortization Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the Statement of Profit and Loss unless such expenditure forms part of carrying value of another asset.

|445| Chap. 19 – Ind AS 38 – Intangible Assets Estimated economic useful lives of the intangible assets as follows: Category Useful lives (in years) Computer softwares 3 to 6 Marketing rights 5 to 10 Brand 3 to 7 Non-compete fees 5 years Agent relationships 2 years Customer relationships 4 to 10 years Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the Statement of Profit and Loss when the asset is derecognized. Notes to Accounts 4(b) Other Intangible assets (` in Lakhs) Description Marketing and business rights Noncompete Fees Computer software Brand Agent relationship Customer relationships TOTAL Gross Block Balance as at 01 April 2017 1,324 593 7,320 17,643 5,267 14,126 46,273 Additions - - 6,465 - - 20 6,485 On subsidiarisation of Joint Venture* - - 6 - - - 6 Assets acquired on business combinations (refer note 28) - - - - - 682 682 Disposals - - (1) - - - (1) Exchange differences 33 98 1,384 2,898 865 2,368 7,646 Balance as at 31 March 2018 1,357 691 15,174 20,541 6,132 17,196 61,091 Additions - - 2,438 - - - 2,438 Disposals - - (29) - - - (29) Exchange differences 102 (22) (523) (653) (195) (547) (1,838) Balance as at 31 March 2019 1,459 669 17,060 19,888 5,937 16,649 61,662 Amortisation Balance as at 01 April 2017 464 396 4,001 17,643 5,267 10,334 38,105 Amortisation for the year 225 216 1,473 - - 883 2,796 On subsidarisation of joint venture* - - 4 - - - 4 Exchange differences 84 79 591 2,898 865 1,759 6,276 Balance as at 31 March 2018 773 691 6,068 20,541 6,132 12,976 47,181 Amortisation for the year 244 - 1,876 - - 844 2,964 On subsidiarisation of joint venture* - - (36) - - - (36) Exchange differences (29) (22) (152) (653) (195) (443) (1,494) Balance as at 31 March 2019 988 669 7,756 19,888 5,937 13,377 48,615 Net book value At 31 March 2018 584 - 9,106 - - 4,220 13,910 At 31 March 2019 471 - 9,304 - - 3,272 13,047 * On April 1, 2017, South Asia Terminals Private Limited has become a wholly owned subsidiary of the Group. During the year 2016-17, it was treated as Joint Venture of the Group.

|446| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts c) Impairment testing of goodwill The Group performs impairment testing annually at every reporting date. Goodwill as at the year ended March 31, 2019 pertains to Multimodal Transport Operations (“MTO”) business operated across multiple geographies and entities as part of global service delivery. Accordingly, goodwill is tested at aggregate MTO business level, treating it as one cash generating unit. The recoverable amount of the MTO business has been determined to be the lower of: (a) fair value calculation using the multiples method (b) value in use determined by using the discounted cash flow (DCF method) based on projections from financial budgets approved by senior management covering a five-year period. The post-tax discount rate applied to cash flow projections for impairment testing is 10.08% (March 31, 2018: 11.04% p.a.) and cash flows beyond the five-year period are extrapolated using a 1% growth rate (March 31, 2018: 1% p.a.). Key assumptions used for value in use calculations included EBITDA margins, discount rates, growth rates, capex for the period. The key assumptions in relation to calculation of fair value using the multiples method was the EV / EBITDA multiple. The above assumptions were based on the observed industry trends, projections made by Group’s senior management and past performance of the Group. It was concluded that the fair value less costs of disposal and value in use were both significantly higher than the carrying the MTO business and any reasonably possible change would not cause the CGU’s carrying value to exceed its recoverable amount. Considering this, the Group has not recognized any charge for impairment of the goodwill. 3. BHARTI AIRTEL limited Accounting policy 2.8 Intangible assets Identifiable intangible assets are recognised when the Group controls the asset, it is probable that future economic benefits attributed to the asset will flow to the Group and the cost of the asset can be measured reliably. Goodwill represents the cost of the acquired businesses in excess of the fair value of identifiable net assets purchased (refer note 2.4). Goodwill is not amortised; however it is tested annually for impairment (refer note 2.9) and carried at cost less any accumulated impairment losses. The gains / (losses) on the disposal of a cash-generating-unit (‘CGU’) include the carrying amount of goodwill relating to the CGU sold (in case goodwill has been allocated to group of CGUs; it is determined on the basis of the relative fair value of the operations sold). The intangible assets that are acquired in a business combination are recognised at its fair value there at. Other intangible assets are initially recognised at cost. These assets having finite useful life are carried at cost less accumulated amortisation and any impairment losses. Amortisation is computed using the straightline method over the expected useful life of intangible assets. The Group has established the estimated useful lives of different categories of intangible assets as follows: a. Software Software are amortised over the period of license, generally not exceeding five years. b. Bandwidth Bandwidth is amortised over the period of the agreement. c. Licenses (including spectrum). Acquired licenses and spectrum are amortised commencing from the date when the related network is available for intended use in the relevant jurisdiction. The useful lives range from two to twenty-five years. The revenue-share based fee on licenses / spectrum is charged to the statement of profit and loss in the period such cost is incurred.

|447| Chap. 19 – Ind AS 38 – Intangible Assets d. Other acquired intangible assets Other acquired intangible assets include the following: Rights acquired for unlimited license access: Over the period of the agreement which ranges up to five years Distribution network: One year to two years Customer base: Over the estimated life of such relationships. Non-compete fee: Over the period of the agreement which ranges upto five years The useful lives and amortisation method are reviewed, and adjusted appropriately, at least at each financial year end so as to ensure that the method and period of amortisation are consistent with the expected pattern of economic benefits from these assets. The effect of any change in the estimated useful lives and / or amortisation method is accounted prospectively, and accordingly, the amortisation is calculated over the remaining revised useful life. Further, the cost of intangible assets under development includes the amount of spectrum allotted to the Group and related costs (including borrowing costs that are directly attributable to the acquisition or construction of qualifying assets) (refer note 2.20), if any, for which services are yet to be rolled out and are presented separately in the balance sheet. Disclosure 7. Intangible assets The following table presents the reconciliation of changes in the carrying value of goodwill and other intangible assets for the year ended March 31, 2019 and 2018: Other intangible assets Goodwill # Software Bandwidth Licenses (including spectrum) Other acquired intangibles Total Gross carrying value As of April 1, 2017 340,719 17,982 23,582 933,212 9,777 984,553 Additions / capitalisation - 3,637 7,451 64,352 6 75,446 Acquisition through business combinations* 1,084 - - 321 632 953 Disposals / adjustment@ - (140) 138 460 (389) 69 Sale of subsidiaries^ (6,310) - (463) (16,112) - (16,575) Exchange differences (4,783) 2 (71) (2,830) 102 (2,797) As of March 31, 2018 330,710 21,481 30,637 979,403 10,128 1,041,649 Additions / capitalisation - 2,740 18,269 47,713 - 68,722 Acquisition through business combinations* 436 1 - 15,691 831 16,523 Disposals / adjustment@ - (1) 319 326 (23) 621 Sale of subsidiaries^ (3) (194) - - - (194) Exchange differences 4,056 20 1,252 133 53 1,458 As of March 31, 2019 335,199 24,047 50,477 1,043,266 10,989 1,128,779 Accumulated amortisation

|448| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Other intangible assets Goodwill # Software Bandwidth Licenses (including spectrum) Other acquired intangibles Total As of April 1, 2017 - 14,064 6,620 135,302 4,386 160,372 Charge - 2,731 1,663 52,612 2,462 59,468 Disposals / adjustments@ - (140) 138 460 (389) 69 Sale of subsidiaries^ - - (53) (14,868) - (14,921) Exchange differences - 2 (9) (1,295) 108 (1,194) As of March 31, 2018 - 16,657 8,359 172,211 6,567 203,794 Charge - 2,525 2,799 57,515 2,004 64,843 Disposals / adjustments@ (1) 104 12 (22) 93 Sale of subsidiaries^ - (75) - - (75) Exchange differences - 20 178 (644) 45 (401) As of March 31, 2019 - 19,126 11,440 229,094 8,594 268,254 Net carrying value As of March 31, 2018 328,070 4,824 22,278 807,192 3,561 837,855 As of March 31, 2019 332,562 4,921 39,037 814,172 2,395 860,525 #Net carrying value of goodwill includes accumulated impairment of ` 2,637. *Refer note 5 (c), (m) & (n) ^Refer note 5 (f) & (o) @Mainly pertains to gross block and accumulated amortisation of license (including spectrum), bandwidth and software whose useful life has expired. The carrying value of Intangible assets under development as at March 31, 2019 and March 31, 2018 is ` 7,909 and ` 45,423 respectively, which pertains to spectrum. During the year ended March 31, 2019 and 2018 the Group has capitalised borrowing cost of ` 178 and ` 3,037 respectively. Weighted average remaining amortization period of licenses as of March 31, 2019 and March 31, 2018 is 15.01 years and 15.88 years respectively. For details towards pledge of the above assets refer note 20.2. 4. CHAMBAL FERTILISERS AND CHEMICALS LIMITED Accounting Policy Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any. Intangible assets with finite lives are amortised on a straight line basis over the estimated useful economic life. Software is the acquired intangible asset. Management of the Company assessed the useful life of software as finite and cost of software is amortized over their estimated useful life of five years on straight line basis. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. If the expected useful life of the asset is significantly different from previous estimates, the amortization period is changed accordingly. If there has been a significant change in the expected pattern of economic benefits from the asset, the amortization method is changed to reflect the changed pattern. Such changes are accounted for in accordance with Ind AS-8 “Accounting Policies, Changes in Accounting Estimates and Errors”.

|449| Chap. 19 – Ind AS 38 – Intangible Assets Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the Statement of Profit and Loss when the asset is derecognized. Notes to Accounts (` in Lakhs) Particulars Goodwill (acquired) Goodwill on consolidation Total Goodwill Software Internally developed software platforms# Total other intangible assets NOTE 4 : OTHER INTANGIBLE ASSETS Cost As at April 01, 2017 3390.14 20783.28 24173.42 2138.18 4694.90 6833.08 Purchase - - - 162.55 2274.25 2436.80 Foreign Currency Translation Difference 16.99 - 16.99 12.95 49.26 62.21 As at March 31, 2018 3407.13 20783.28 24190.41 2313.68 7018.41 9332.09 Purchase - - - 43.72 1456.26 1499.98 Foreign Currency Translation Difference 208.04 - 208.04 86.95 412.93 499.88 As at March 31, 2019 3615.17 20783.28 24398.45 2444.35 8887.60 11331.95 Amortization and Impairment As at April 01, 2017 - 20783.28 20783.28 1546.76 2043.83 3590.59 Charge for the year - - - 352.89 1991.72 2344.61 Foreign Currency Translation Difference - - - 12.77 32.77 45.54 As at March 31, 2018 - 20783.28 20783.28 1912.42 4068.32 5980.74 Charge for the year * - - - 32.50 2472.51 2605.01 Foreign Currency Translation Difference - - - 86.94 221.89 308.83 As at March 31, 2019 - - 20783.28 2131.86 6762.72 8894.58 Net Book Value As at March 31, 2018 3407.13 - 3407.13 401.26 2950.09 3351.35 As at March 31, 2019 3615.17 - 3615.17 312.49 2124.88 2437.37 * As March 31, 2019, CFCL Ventures Limited, a subsidiary of the Parent Company has re-assessed the future plan and active market for certain software and internally developed software platforms. On the basis of the assessment, the subsidiary of the Parent Company has charged acclelerated amortisation of ` 2,473.52 Lakhs in respect of such software and software platforms which are not in active use. # Internally developed software platforms relates to CFCL Ventures Limited, a subsidiary of the Parent Company, comprises of the following: (` in Lakhs) Particulars As at March 31, 2019 As at March 31, 2018 Intangible Assets Net Book Value Intangible Assets under Development Intangible Assets Net Book Value Intangible Assets under Development Loan Dynamix 1039.21 315.19 799.15 - Powerhub 5.64 907.68 12.93 510.90 Tempo 649.89 1.71 584.38 - Loan Momentum 205.34 49.63 155.23 35.77 Others 224.80 - 1398.40 45.68 Total 2124.88 1274.21 2950.09 592.35 The management of the said subsidiary company is of view that the aforesaid internally developed software platforms have satisfied technological and economic feasibility and also significant future economic benefits are expected to arise from these products.

|450| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 5. CIPLA LIMITED Recognition and measurement Acquired intangible assets such as marketing intangibles, trademarks, technical knowhow, brands and computer software, product related intangibles, distribution network, non – compete rights, government contracts acquired separately are measured on initial recognition at cost. Further, payments to third parties for in-licensed products, generally take the form of up-front payments and milestones which are capitalised following a cost accumulation approach to variable payments (milestones) for the acquisition of intangible assets when receipt of economic benefits out of the separately purchased transaction is considered to be probable. Following initial recognition, intangible assets are carried at cost less accumulated amortization and accumulated impairment loss, if any. Subsequent expenditures are capitalised only when they increase the future economic benefits embodied in the specific asset to which they relate. Goodwill Goodwill represents the excess of consideration transferred, together with the amount of non-controlling interest in the acquiree, over the fair value of the identifiable net assets acquired. Goodwill is measured at cost less accumulated impairment losses. In respect of equity accounted investees, the carrying amount of goodwill is included in the carrying amount of the investment, and any impairment loss on such an investment is not allocated to any asset, including goodwill, that forms part of the carrying value of the equity accounted investee. In-process research and development assets (“IPR&D”) or Intangible assets under development Acquired research and development intangible assets that are under development are recognised as In-Process Research and Development assets (“IPR&D”) or Intangible assets under development. IPR&D assets are not amortised, but evaluated for potentialimpairment on an annual basis or when there are indications that the carrying value may not be recoverable. Subsequent expenditure on an in-process research or development project acquired separately or in a business combination and recognised as an intangible asset is : Recognised as an expense when incurred, if it is research expenditure Capitalised if the cost can be reliably measured, the product or process is technically and commercially feasible and the Group has sufficient resources to complete the development and to use and sell the asset. Expenditure on regulatory approval Expenditure for obtaining regulatory approvals and registration of products for overseas markets is charged to the consolidated profit or loss. Amortisation The Group amortises intangible assets with finite useful life using the straight-line method over the following periods: The estimated useful life for Intangible assets are mentioned below: Type of Intangible assets Useful Lives Type of Intangible assets Useful Lives Marketing intangibles 2 to 25 years Trademarks 2 to 15 years Technical Know-how 2 to 15 years Brands 2 to 15 years Computer software 2 to 6 years De-recognition of intangible assets Intangible assets are de-recognised either on their disposal or where no future economic benefits are expected from their use. Losses arising on such de-recognition are recorded in the consolidated profit or

|451| Chap. 19 – Ind AS 38 – Intangible Assets loss, and are measured as the difference between the net disposal proceeds, if any, and the carrying amount of respective intangible assets as on the date of de-recognition. 6. GRASIM INDUSTRIES LIMITED Intangible Assets acquired separately and Amortisation: On transition to Ind AS, the Group has elected to continue with the carrying value of all its Intangible Assets recognised as at 1st April 2015 measured as per the previous GAAP and use that carrying value as the deemed cost of the Intangible Assets. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses, if any. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment, whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in the Statement of Profit and Loss unless such expenditure forms part of carrying value of another asset. Intangible assets are amortised on a straight-line basis over their estimated useful lives. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset, and are recognised in the Statement of Profit and Loss when the asset is derecognised. Intangible Assets and their Useful Lives are as under: S. No. Nature of Assets Estimated Useful Life of the Assets 1. Computer Software 2 - 6 years 2. Trademarks, Technical Know-how 5 - 10 years 3. Value of License/Right to use infrastructure 10 years 4. Mining Rights Over the period of the respective mining agreement 5. Mining Reserve On the basis of material extraction (proportion of material extracted per annum to total mining reserve) 6. Jetty Rights Over the period of the relevant agreement such that the cumulative amortisation is not less than the cumulative rebate availed by the Group. 7. Customer Relationship 15-25 years 8. Brands 10 years 9. Production Formula 10 years 10. Distribution Network(inclusive of Branch/ Franchise/ Agency network and Relationship) 6 - 25 years 11. Right to Manage and operate Manufacturing Facility 15 years

|452| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts S. No. Nature of Assets Estimated Useful Life of the Assets 12. Value- in- Force 15 years 13. Group Management Rights Indefinite 14. Investment Management Rights Over the period of 10 years 15. Order Backlog 3 months - 1 year 16. Non-Compete fees 3 Years Revenue expenditure on research is expensed under the respective heads of the account in the period in which it is incurred. Development expenditure is capitalised as an asset, if the following conditions can be demonstrated: a) The technical feasibility of completing the asset so that it can be made available for use or sell. b) The Group has intention to complete the asset and use or sell it. c) In case of intention to sale, the Group has the ability to sell the asset. d) The future economic benefits are probable. e) The Group has ability to measure the expenditure attributable to the asset during its development reliably. Other development costs, which do not meet the above criteria, are expensed out during the period in which they are incurred. PPE procured for research and development activities are capitalised. 7. JUBILANT FOODWORKS LIMITED Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less accumulated amortisation and accumulated impairment losses, if any. Intangible assets are amortised on a straight-line basis over the estimated useful economic life. If the persuasive evidence exists to the affect that useful life of an intangible asset exceeds ten years, the Group amortises the intangible asset over the best estimate of its useful life. Such intangible assets are tested for impairment annually, either individually or at the cash-generating unit level. All other intangible assets are assessed for impairment whenever there is an indication that the intangible asset may be impaired. Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the statement of profit and loss when the asset is derecognised. A summary of amortisation policies applied to the Group intangible assets is as below: Intangible assets Estimated Useful Life (in no. of years) Software 5–7 Store opening fees 5 Territory fees 15 The territory fee has been paid to the franchisor for running and operating Dunkin’ Donuts Restaurants. The period of contract is for 15 years, during which the Group shall be deriving the economic benefits, and has accordingly amortised the same. Internally-generated intangible assets – research and development expenditure Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally-generated intangible asset arising from development (or from the development phase of an internal project) is recognised if, and only if, all of the following have been demonstrated: • the technical feasibility of completing the intangible asset so that it will be available for use or sale;

|453| Chap. 19 – Ind AS 38 – Intangible Assets • the intention to complete the intangible asset and use or sell it; • the ability to use or sell the intangible asset; • how the intangible asset will generate probable future economic benefits; • the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and • the ability to measure reliably the expenditure attributable to the intangible asset during its development. The amount initially recognised for internally-generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally-generated intangible asset can be recognised, development expenditure is recognised in profit or loss in the period in which it is incurred. Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. Disclosure c) Intangible Assets (` in lakhs) Particulars Intangible Asset Software Store Opening Fees and Territory Fees Intangible Asset under Development Total Gross carrying amount as at April 1, 2017: 3,635.35 2,731.20 - 6,366.55 Additions 309.72 106.12 180.78 596.62 Disposals/transfer - (2.72) - (2.72) Exchange differences 27.57 (27.53) 0.04 Gross carrying amount as at April 1, 2018 3,972.64 2,807.07 180.78 6,960.49 Additions 832.93 594.92 49.56 1,477.40 Disposals/transfer - (67.39) (180.78) (248.17) Exchange differences (3.61) (2.94) - (6.55) Gross carrying amount as at March 31, 2019 (A) 4,801.96 3,331.65 49.56 8,183.17 Accumulated amortisation as at April 1, 2017 821.49 1,032.45 - 1,853.94 Amortisation for the year 710.14 567.23 - 1,277.37 Disposals - (2.41) - (2.41) Exchange differences 2.92 (1.76) 1.16 Accumulated amortisation as at April 1, 2018 1,534.55 1,595.51 - 3,130.06 Amortisation for the year 804.00 442.31 - 1,246.31 Disposals - (67.45) - (67.45) Exchange differences (1.92) (2.18) - (4.10) Accumulated amortisation as at March 31, 2019 (B) 2,336.63 1,968.19 - 4,304.82 Net carrying amount (A) - (B) As at March 31, 2019 2,465.33 1,363.46 49.56 3,878.36 As at March 31, 2018 2,438.09 1,211.56 180.78 3,830.43

|454| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Net Carrying Amount: (` in lakhs) Particulars As at March 31, 2019 As at March 31, 2018 Intangible assets 3,828.80 3,649.65 Intangible assets under development 49.56 180.78 d) Depreciation and Amortisation expense (` in lakhs) Particulars Year ended March 31, 2019 Year ended March 31, 2018 Depreciation on property, plant and equipment 14,498.74 14,733.21 Amortisation expense on intangible assets 1,246.31 1,277.37 Total 15,745.05 16,010.58 8. OIL AND NATURAL GAS CORPORATION LIMITED Accounting Policies 3.6 Goodwill on consolidation Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the business less accumulated impairment losses, if any. For the purposes of impairment testing, goodwill is allocated to each of the Group’s cash-generating units (or groups of cash-generating units) that is expected to benefit from the synergies of the combination. A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the cash generating unit may be impaired. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the cash generating unit and then to the other assets of the unit pro rata based on the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in Consolidated Statement of Profit and Loss. An impairment loss recognised for goodwill is not reversed in subsequent periods. On disposal of the relevant cash-generating unit, the attributable amount of goodwill is included in the determination of the Profit and Loss. 3.12 Intangible Assets (i) Intangible assets acquired separately The Group (except for ONGC Videsh Ltd where due to change in functional currency this exemption is not available as per para D7AA of Ind AS 101 ) has elected to continue with the carrying value of all of its intangible assets recognised as of April 1, 2015 (transition date) measured as per the Previous GAAP and use that carrying value as its deemed cost as of the transition date except adjustment related to decommissioning liabilities. Intangible assets are carried at cost net of accumulated amortization and accumulated impairment losses, if any. Internally generated intangibles, excluding development costs, are not capitalised and the related expenditure is reflected in Statement of Profit and Loss in the period in which the expenditure is incurred. Development costs are capitalised if technical and commercial feasibility of the project is demonstrated, future economic benefits are probable, the Group has an intention and ability to complete and use or sell the asset and the costs can be measured reliably. In cases where, the Group has constructed assets and the Group has only a preferential right to use, these assets are classified as intangible assets and are amortised (after retaining the residual value, if applicable) over their useful life or the period of the agreement, whichever is lower.

|455| Chap. 19 – Ind AS 38 – Intangible Assets Intangible assets with finite useful lives that are acquired separately. amortized on a straight-line basis over their estimated useful life. Intangible assets in form of right to use is amortised on straight line basis over the useful life of underlying asset. The estimated useful life is reviewed at the end of each reporting period and the effect of any changes in estimate being accounted for prospectively and tested for impairment. Intangible assets with indefinite useful lives that are acquired separately are not subject to amortisation and are carried at cost less accumulated impairment losses, if any. An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, and recognised in the Consolidated Statement of Profit and Loss, when the asset is derecognised. Technical know-how/license fee relating to production process and process design are recognized as Intangible Assets. Estimated lives of intangible assets (acquired) are as follows: • Software – 2 to 10 years • Technical know-how/license fees – 2 to 10 years • Right to use-wind mills - 22 years Disclosures 11. Other intangible assets (` in million) Particulars Software Right of Way Technical /Process Licenses Wind Energy Equipments Total Balance at March 31, 2018 4,146.75 2,169.61 621.97 1,885.55 8,823.88 Additions during the year 1,397.25 271.00 - - 1,668.25 Disposal/adjustments (4.43) - - - (4.43) Foreign currency translation adjustment (Refer note 11.2) 79.50 - - - 79.50 Balance at March 31, 2019 5,619.07 2,440.61 621.97 1,885.55 10,567.20 Less: Accumulated amortisation and impairment Accumulated amortisation (Refer note 11.1) Balance at March 31, 2018 2,001.23 - 256.20 306.49 2,563.92 Provision for the year 966.68 - 118.60 103.50 1,188.78 Disposal/adjustments (3.52) - - - (3.52) Foreign currency translation adjustment (Refer note 11.2) 46.94 - - - 46.94 Balance at March 31, 2019 3,011.33 - 374.80 409.99 3,796.12 Accumulated Impairment Balance at March 31, 2018 5.58 - - - 5.58 Provision for the year - - - - - Disposal/adjustments (2.94) - - - (2.94) Balance at March 31, 2019 2.64 - - - 2.64 Carrying amount at March 31, 2018 2,139.93 2,169.61 365.78 1,579.06 6,254.38 Carrying amount at March 31, 2019 2,605.09 2,440.61 247.18 1,475.56 6,768.44

|456| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 11.1 Except for OVL, the Group has elected to continue with the carrying value of its other intangible assets, recognised as of April 1, 2015 (transition date) measured as per the Previous GAAP and used that carrying value as its deemed cost as on the transition date as per Para D7AA of Ind AS 101 ‘First –time Adoption of Indian Accounting Standards’. 11.2 Group’s subsidiary OVL has determined its functional currency as US$. Above foreign exchange difference represents differences on account of translation of the consolidated financial statements of the ONGC Videsh Limited from US$ to Group’s presentation currency “`”. Refer note 3.21 and 5.1 (a). 11.3 The Group holds a Right of Way for laying Pipeline between Mangalore and Bangalore via Hassan. The cost of acquiring the right has been capitalised as Intangible Assets. The right is an indefinite (perpetual) right with no stipulation over the period of validity. Hence, the same is not amortised. 12. Intangible assets under development (` in million) Particulars As at March 31, 2019 As at March 31, 2018 (i) Exploratory wells in progress Cost or deemed cost Opening balance 258,007.22 241,873.94 Expenditure during the year (Refer note 12.2.4) 61,108.59 77,418.65 Sale proceeds of Oil and Gas (32.77) (35.25) Depreciation during the year (Refer note 40) 2,646.30 4,894.46 Total (A) 321,729.34 324,151.80 Less: Transfer to Oil and Gas Assets 11,318.66 7,302.49 Wells written off during the year 70,509.30 58,912.76 Other adjustments - - Effect of exchange differences (Refer note 12.2.6) (2,728.28) (70.67) Total (B) 79,099.68 66,144.58 Sub-total (A-B) 242,629.66 258,007.22 Less: Accumulated Impairment (Refer note 12.1) Opening Balance 15,380.01 14,619.23 Provided during the year 9,249.75 1,820.96 Write back during the year (223.58) (1,065.44) Effect of exchange differences (Refer note 12.2.6) 318.13 5.26 Total 24,724.31 15,380.01 Carrying amount of Exploratory wells in progress 217,905.35 242,627.21 (ii) Acquisition Cost Cost or deemed cost Opening balance 175,308.17 165,519.88 Addition during the year (Refer note 12.2.5) 5,443.72 16,629.33 Acquisition cost written off during the period - (4,756.26) Effect of exchange differences (Refer note 12.2.6) 10,676.12 (2,084.78) Total 191,428.01 175,308.17

|457| Chap. 19 – Ind AS 38 – Intangible Assets (` in million) Particulars As at March 31, 2019 As at March 31, 2018 Less : Accumulated Impairment Opening balance 16,630.12 16,082.66 Provided during the year (Refer note 40) - 526.44 Effect of exchange differences (Refer note 12.2.6) 1,099.84 21.02 Total 17,729.96 16,630.12 Carrying amount of Acquisition Cost 173,698.05 158,678.05 Carrying amount of Intangible assets under development 391,603.40 401,305.26 12.1 The Company had acquired during 2004-05, 90% Participating Interest in Exploration Block KGDWN-98/2 from Cairn Energy India Ltd for a lump sum consideration of ` 3,711.22 million which, together with subsequent exploratory drilling costs of wells had been capitalised under exploratory wells in progress. During 2012-13, the Company had acquired the remaining 10% participating interest in the block from M/s Cairn Energy India Ltd on actual past cost basis for a consideration of ` 2,124.44 million. Initial in-place reserves were established in this block and adhering to original PSC time lines, a Declaration of commerciality (DOC) with a conceptual cluster development plan was submitted on December 21, 2009 for Southern Discovery Area and on July 15, 2010 for Northern Discovery Area. Thereafter, in the revised DOC submitted in December, 2013, Cluster-wise development of the Block had been envisaged by division of entire development area into three clusters. The DOC in respect of Cluster II had been reviewed by the Management Committee (MC) of the block on September 25, 2014. Field Development Plan (FDP) for Cluster-II was submitted on September 8, 2015 which included cost of all exploratory wells drilled in the Contract Area and the same had been approved by ONGC Board on 28th March 2016 and by MC on March 31, 2016. Investment decision has been approved by the Company. Contracts for Subsea umbilical risers, flow lines, Subsea production system, Central processing platform – living quarter utility platform and Onshore Terminal have been awarded during 2018-19. 10 Oil Wells, 6 Gas Wells and 3 Water Injector Wells were drilled during the year and 3 wells are nunder drilling, the cost of development wells in progress and CWIP- oil and gas assets as at March 31, 2019 is ` 18,282.91 million and ` 5,525.92 million respectively. In respect of Cluster-I, FDP was filed on December 14, 2017 for development of Gas discoveries in D1 & E1 field which was not agreed to by DGH, however, the issue was taken up with MoP&NG in terms of PSC Provisions for review/approval of FDP. The Company is pursuing this matter with MoP&NG for a favourable decision. Meanwhile, FDP for integrated development of Oil discoveries in F1 field of Cluster I along with nominated field GS-29 was submitted on December 28, 2018 to MoP&NG and is under review. Revised DOC of Cluster-III was reviewed in 64th Management Committee on July 26, 2018 along with approval of drilling of 4 appraisal wells. These wells are planned to be drilled in 2019-20. In view of the definite plan for development of all the clusters, the cost of exploratory wells in the block i.e. ` 52,031.08 million has been carried over. 12.2 In respect of subsidiary OVL, 12.2.1 The company has 60% Participating Interest in Block XXIV, Syria. In view of deteriorating law and order situation in Syria, operations of the project are temporarily suspended since April 29, 2012. In view of the same provision had been made in respect of exploratory wells in progress. The impairment as at March 31, 2019 is ` 2,842.46 million (as at March 31, 2018: ` 2,666.27 million) in respect of the project.

|458| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 12.2.2 In respect of Block Farsi, Iran, the Company in consortium with other partners entered into an Exploration Service Contract (ESC) with National Iranian Oil Company (NIOC) on December 25, 2002. After exploratory drilling, FB area of the block proved to be a gas discovery and was later rechristened as Farzad-B. NIOC announced the Date of Commerciality for Farzad-B as August 18, 2008. However, the contractual arrangement with respect to development has not been finalized, so far. Impairment has been made in respect of the Company’s investment in exploration in the Farsi Block. The impairment as at March 31, 2019 ` 2359.56 million (as at March 31, 2018 ` 2,213.30 million). 12.2.3 Acquisition cost relates to the cost for acquiring property or mineral rights of proved or unproved oil and gas properties which are currently under Exploration/Development stage; such cost will be transferred to Oil and Gas Assets on commencement of commercial production from the project or written off in case of relinquishment of exploration project. 12.2.4 Borrowing cost amounting to ` 408.20 million has been capitalised during the year ended March 31, 2019 (for the year ended March 31, 2018 ` 288.73 million) in Exploratory wells in progress. The weighted average capitalization rate on funds borrowed is 4.74 % per annum (during the year ended March 31, 2018: 2.66% per annum). 12.2.5 Borrowing cost amounting to ` 5,231.19 million has been capitalised during the year ended March 31, 2019 (for the year ended March 31, 2018 ` 3,698.88 million) in Acquisition cost. The weighted average capitalization rate on funds borrowed is 4.74% per annum (during the year ended March 31, 2018: 2.66% per annum). 12.2.6 Company has determined its functional currency as US$. Above foreign exchange difference represents differences on account of translation of the financial statements of the ONGC Videsh Limited from US$ to Group’s presentation currency “`”. Refer note 3.21 and 5.1 (a). 9. PVR LIMITED Accounting Policies Intangible assets (i) Recognition and Measurement: Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses, if any. (ii) Subsequent Expenditure: Subsequent expenditure is capitalised only when it increase the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognised in the statement of profit or loss as incurred. (iii) The useful life and the basis of amortisation and impairment losses are as under: a) Software Cost relating to purchased software and software licenses are capitalised and amortised on a straight-line basis over their estimated useful lives of 6 years. b) Goodwill Goodwill on acquisitions is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses if any. Goodwill is allocated to cashgenerating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the

|459| Chap. 19 – Ind AS 38 – Intangible Assets goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes. c) Trademarks and copyrights Trademark and copyrights for the brand name acquired and registered by the Group are capitalised and are amortised over an estimated life of five years. d) Film Right’s The intellectual property rights acquired/created in relation to films are capitalised as film rights. The amortisation policy is as below: (a) In respect of films which have been co-produced /co owned/ acquired and in which the Group holds rights for a period of 5 years and above as below: 60% to 80% of the cost of film rights on first domestic theatrical release of the film based on the management estimates. The said amortisation relates to domestic theatrical rights, international theatrical rights, television rights, music rights and video rights etc. In case these rights are not exploited along with or prior to their first domestic theatrical release, proportionate cost of such right is carried forward to be written off as and when such right is commercially exploited or at the end of 1 year from the date of first domestic theatrical release, whichever occurs earlier. Balance 40% to 20% is amortised over the remaining license period based on an estimate of future revenue potential subject to a maximum period of 10 years. (b) In respect of films, where the Group holds rights for a limited period of 1 to 5 years, entire cost of movies rights acquired or produced by the Group is amortised on first theatrical release of the movie. The said amortisation relates to domestic theatrical rights, international theatrical rights, television rights, music rights and video rights and others. In case these rights are not exploited along with or prior to the first domestic theatrical release, proportionate cost of such right is carried forward to be written off as and when such right is commercially exploited or at the end of 1 year from the date of first theatrical release, whichever occurs earlier. (c) In one of the subsidiary Company, PVR Pictures Limited, the film right cost (primarily for foreign films) is amortised over the period of useful lives, writing off more in year one which recognises initial income flows and then the balance over a period of nine years, or the remaining life of the content rights, whichever is less. The amortisation policy followed by the subsidiary company, PVR Pictures Limited is as below: 25% to 75% of the cost of film rights on first domestic theatrical release of the film based on the management estimates if the agreement is silent on allocation of rights. The said amortisation relates to Theatrical rights. In case these theatrical rights are not exploited proportionate cost of such right is written off as and when the management decides to commercially not exploit such right. Balance 75% to 25% is amortised over the remaining license period based on an estimate of future revenue potential if the agreement is silent on allocation of rights subject to a maximum period of 10 years. e) Brands and Beneficial Lease Rights Intangible assets resulting from acquisition of SPI Cinemas comprise of ‘Beneficial Lease Rights’ are amortised on straight-line basis over remaining lease period and ‘Brands’ are amortised on straight-line basis over a period of 20 years and tested for impairment annually.

|460| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (` in lakhs, except for per share data and if otherwise stated) Goodwill* Other Intangible assets Total (Including Goodwill on consolidation) Software Development Copyrights Beneficial Brand Lease Rights Film Rights A B C D B+C+D At April 1, 2017 43,365 2,224 144 - - 2,770 5,138 Additions 82 495 - - - 1,256 1,751 Adjustment on account of sale of Investment in Smaaash Leisure Limited (Formerly known as PVR BluO Entertainment Limited) (refer note 52) - (46) (144) - - - (190) Disposals and discard - (107) - - - (119) (226) At March 31, 2018 43,447 2,566 - - - 3,907 6,473 Additions 160 763 - - - 1,600 2,363 Adjustment on account (refer note 42) of Business combination 67,554 571 - 7,263 9,422 - 17,256 Disposals and discard - (12) - - - (183) (195) At March 31, 2019 111,161 3,888 - 7,263 9,422 5,324 25,897 Amortisation At April 1, 2017 - 643 37 - - 1,428 2,108 For the year - 454 7 - - 1,257 1,718 Adjustment on account of sale of Investment in Smaaash Leisure Limited (Formerly known as PVR BluO Entertainment Limited) (refer note 52) - (29) (44) - - - (73) Deductions/Adjustments - (4) - - - (119) (123) At March 31, 2018 - 1,064 - - - 2,566 3,630 For the period - 537 - 298 445 1,005 2,285 Adjustment on account (refer note 42) of Business combination - 256 - - - - 256 Deductions/Adjustments - (12) - - - (183) (195) At March 31, 2019 - 1,845 - 298 445 3,388 5,976 Net Block At March 31, 2018 43,447 1,502 - - - 1,341 2,843 At March 31, 2019 111,161 2,043 - 6,965 8,977 1,936 19,921 *Includes Goodwill on consolidation amounting to ` 68,501 lakhs (March 31, 2018 : ` 787 lakhs). Note: Impairment testing of Goodwill: Goodwill represents excess of consideration paid over the net assets acquired. This is monitored by the management at the level of cash generating unit (CGU) and is tested annually for impairment. Cinemax India Limited and Cinema exhibition undertaking of DLF Utilities Limited acquired in financial year 2012-13

|461| Chap. 19 – Ind AS 38 – Intangible Assets and 2016-17 respectively is now completely integrated with the existing cinema business of the Company, and accordingly is monitored together as one CGU. The Company tested goodwill for impairment using a discounted cash flow methodology with a peer-based, risk-adjusted weighted average cost of capital using the discount rate of 10% to 12.5% and terminal value growth rate of 5% to 10% from 2023-24. We believe use of a discounted cash flow approach is the most reliable indicator of the fair values of the businesses. Additionally the goodwill has been tested for impairment by reference to the quoted price of equity shares of PVR Limited ("PVR"), which carries total cinema exhibition business. As at March 31, 2019, total market capitalization of PVR is 768,452 lakhs significant part of which represents value of the cinema exhibition business which is higher than the carrying value of Goodwill. The goodwill that arose on acquisition of SPI Cinemas is tested for impairment separately as the Company is in the process of integration with the Cinema exhibition business of the Parent Company. The Company tested goodwill for impairment using a discounted cash flow methodology with a peer-based, risk-adjusted weighted average cost of capital using the discount rate of 10% to 12.5% and terminal value growth rate of 5% to 10% from 2023-24. We believe use of a discounted cash flow approach is the most reliable indicator of the fair values of the businesses. 10. S CHAND AND COMPANY LIMITED Recognition and measurement Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any. Internally generated intangible assets, excluding capitalised development costs, are not capitalized and expenditure is recognised in the statement of profit or loss when it is incurred. Amortisation and useful lives The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over their useful economic lives and assessedfor impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognised in the statement of profit or loss in the expense category consistent with the function of the intangible assets. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the statement of profit or loss when the asset is derecognised. Research and development costs Research costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset when the group can demonstrate: • The technical feasibility of completing the intangible asset so that it will be available for use or sale • Its intention to complete and its ability to use or sell the asset • How the asset will generate future economic benefits 159 • The availability of adequate resources to complete the development and to use or sell the asset • The ability to measure reliably the expenditure during development

|462| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Following initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Amortisation of the asset begins when development is complete and the asset is available for use. It is amortised over the period of expected future benefit. During the period of development, the asset is tested for impairment annually. A summary of the policies applied to the group’s intangible assets is as follows: Intangible assets Useful lives Amortization method used Internally generated or acquired Computer software Finite(3-10 years) Amortization on straight line basis over useful life of asset Acquired Goodwill on business combination Infinite No amortization Acquired Copyrights Finite(5-10 years) Amortization on straight line basis over useful life of copyright Acquired Content development Finite(10 seasons) Amortization on straight line basis over useful life of contents Internally generated Technical know-how Finite(3-6 years) Amortization on straight line basis over useful life of copyright Acquired License fees Finite(5 years) Amortization on straight line basis over useful life of copyright Acquired Website development Finite(10 years) Amortization on straight line basis over useful life of copyright Acquired 11. TATA CHEMICALS LIMITED a) Significant Accounting Policies Intangible Assets Goodwill Goodwill represents the cost of the acquired businesses in excess of the fair value of identifiable tangible and intangible net assets purchased. Goodwill is not amortized; however it is tested annually for impairment and carried at cost less accumulated impairment losses, if any. The gains / (losses) on the disposal of an entity include the carrying amount of Goodwill relating to the entity disposed. Other Intangible assets Computer software, technical knowhow, product registration, contractual rights, rights to use railway wagons and mining rights of similar nature are initially recognized at cost. The intangible assets acquired in a business combination are measured at their fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any. The intangible assets with a finite useful life are amortized using straight line method over their estimated useful lives. The management’s estimates of the useful lives for various class of intangibles are as given below: Asset Useful life Mining rights** 140 years Computer software 3-8 years Product registration, contractual rights and rights to use railway wagons 4-20 years Technical knowhow 3 years **Mining rights which are in relation to the USA subsidiaries mine are amortized using the units-ofproduction method. Approximately 99% (previous year 99%) of mining rights are amortized using the unitsof-production method.

|463| Chap. 19 – Ind AS 38 – Intangible Assets The estimated useful life is reviewed annually by the management. Losses arising from the retirement or disposal of an intangible asset are determined as the difference between the net disposal proceeds and the carrying amount of the asset and recognized as income or expense in the Consolidated Statement of Profit and Loss. Capital work-in-progress (‘CWIP’) and intangible assets under development Projects under commissioning and other CWIP/ intangible assets under development are carried at cost, comprising direct cost, related incidental expenses and attributable borrowing cost. Subsequent expenditures relating to property, plant and equipment are capitalized only when it is probable that future economic benefit associated with these will flow to the Group and the cost of the item can be measured reliably. Advances given to acquire property, plant and equipment are recorded as non-current assets and subsequently transferred to CWIP on acquisition of related assets. Amortization b) Key Judgements and Estimates Useful lives of Intangible Assets Management reviews the estimated useful lives and residual value of PPE and Intangibles at the end of each reporting period. Factors such as changes in the expected level of usage, technological developments, unitsof-production and product life-cycle, could significantly impact the economic useful lives and the residual values of these assets. Consequently, the future depreciation and amortisation charge could be revised and may have an impact on the profit of the future years. Notes to Accounts 7. Other intangible assets ` in crore Particulars Computer Software Technical knowhow Product registration, contractual rights and others* Mining rights Total Gross Block Balance as at April 1, 2017 15.91 11.37 21.93 7,204.56 7,253.77 Additions 3.15 3.99 0.26 32.09 39.49 Disposals (1.61) - - (0.24) (1.85) Transferred to Discontinued operations (note 24 and 34) (0.04) - - - (0.04) Exchange fluctuations 0.06 - - 53.66 53.72 Balance as at March 31, 2018 17.47 15.36 22.19 7,290.07 7,345.09 Additions 1.52 5.53 1.43 - 8.48 Disposals (0.02) - (0.55) - (0.57) Exchange fluctuations 0.62 - - 434.00 434.62 Balance as at March 31, 2019 19.59 20.89 23.07 7,724.07 7,787.62 Accumulated Amortisation Balance as at April 1, 2017 8.05 6.29 11.31 174.91 200.56 Amortisation for the year 2.27 3.49 4.48 87.86 98.10

|464| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts ` in crore Particulars Computer Software Technical knowhow Product registration, contractual rights and others* Mining rights Total Impairment 0.01 - - - 0.01 Disposals (0.04) - - - (0.04) Transferred to Discontinued operations (note 24 and 34) (0.02) - - - (0.02) Exchange fluctuations 0.04 - - 6.72 6.76 Balance as at March 31, 2018 10.31 9.78 15.79 269.49 305.37 Amortisation for the year 2.10 4.47 1.41 87.72 95.70 Disposals - - (0.21) - (0.21) Exchange fluctuations 0.44 - - 14.98 15.42 Balance as at March 31, 2019 12.85 14.25 16.99 372.19 416.28 Net Block as at March 31, 2018 7.16 5.58 6.40 7,020.58 7,039.72 Net Block as at March 31, 2019 6.74 6.64 6.08 7,351.88 7,371.34 * Others include rights to use the wagon provided by the Ministry of Railways to carry goods at concessional freight. d) Impairment of goodwill Goodwill is tested for impairment at least on an annual basis or more frequently, whenever circumstances indicate that the recoverable amount of the cash generating unit (‘CGU’) is less than its carrying value. The impairment indicators, the estimation of expected future cash flows and the determination of the fair value of CGU require the Management to make significant estimates, assumptions and judgments concerning the identification and validation of impairment indicators, fair value of tangible and intangible assets, revenue growth rates and operating margins used to calculate projected future cash flows, relevant risk-adjusted discount rate, future economic and market conditions, etc. 12. TATA COFFEE LIMITED The Group records all intangible assets acquired as part of a business combination at fair value. Goodwill is assigned an indefinite useful life whilst intangible assets are assigned an indefinite or finite useful life. Goodwill and intangible assets assigned an indefinite useful life are as a minimum subject to annual tests of impairment in line with the accounting policy. Goodwill Goodwill arising on the acquisition of subsidiaries represents the excess of the fair value of consideration over the identifiable net asset acquired. Fair value of consideration represents the aggregate of the consideration transferred, a reliable estimate of contingent consideration payable, the amount of any noncontrolling interest in the acquiree and the fair value of any previous equity interest in the acquiree on the acquisition date. Net assets acquired represents the fair value of the identifiable assets acquired and liabilities assumed. Goodwill is not amortised but is tested for impairment. Goodwill impairment reviews are generally undertaken annually. The carrying value of the Cash Generating Unit containing the goodwill is compared to the recoverable amount, which is the higher of value in use and the fair value less costs of disposal. Any impairment is recognised immediately as an expense and is not subsequently reversed. Goodwill is subsequently measured at cost less amounts provided for impairment.

|465| Chap. 19 – Ind AS 38 – Intangible Assets Brands and Trademarks Brands / trademarks acquired as part of a business combination is recognised outside goodwill, at deemed cost on transition date. Amortisation is charged on a straight-line basis over a period of 20-35 years. The carrying values of brands/ trademarks are reviewed annually or more frequently for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable. Computer software Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring to use the specific software. These costs are amortised over their estimated useful lives of 3 to 5 years. Disclosure Note No. 3 - Goodwill and Other Intangible Assets ` in Lakhs Particulars Goodwill Brands / Trademarks Capitalized Software Total Gross Carrying Value as at April 1, 2017 112273.09 16990.83 2818.32 19809.15 Additions - - 46.64 46.64 Deductions/Adjustments 579.23 126.60 17.93 144.53 Gross Carrying Value as at April 1, 2018 112852.32 17117.43 2882.89 20000.32 Additions - - 158.67 158.67 Deductions/Adjustments 7292.26 1593.84 211.06 1804.90 Gross Carrying Value as at March 31, 2019 120144.58 18711.27 3252.62 21963.89 Accumulated Depreciation as at April 1, 2017 - 2119.00 1338.70 3457.70 Amortisation - 1031.12 631.22 1662.34 Deductions/Adjustments 31.33 65.47 17.20 82.67 Accumulated Depreciation as at April 1, 2018 31.33 3215.59 1987.12 5202.71 Amortisation - 1113.11 610.06 1723.17 Deductions/Adjustments 393.68 737.09 165.07 902.16 Accumulated Depreciation as at March 31, 2019 425.01 5065.79 2762.25 7828.04 Net Carrying Value as at April 1, 2017 112273.09 14871.83 1479.62 16351.45 Net Carrying Value as at April 1, 2018 112820.99 13901.84 895.77 14797.61 Net Carrying Value as at March 31, 2019 119719.57 13645.48 490.37 14135.85 Management reviews the carrying value of goodwill annually to determine whether there has been any impairment. This involves making an assessment of the value of goodwill and comparing it to the carrying value. If the assessed value is lower than the carrying value, then an impairment charge is recognised to reduce the carrying value to this amount. Value in use i.e. the enterprise value is calculated using cash flow projections over a period of 5 years, with amounts based on medium term strategic plans approved by the Board. Any major variations to strategic plan is based on experience are incorporated in the calculations. Cash flows beyond the 5 year period are extrapolated using a long term growth rate. Key assumptions in the budgets and plans include future revenue volume/price growth rates, associated future levels of marketing support, cost-base of manufacture and supply and directly associated overheads. These assumptions are based on historical trends and future market expectations and the markets and geographies in which they operate.

|466| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Other key assumptions applied in determining value in use are (a) long term growth rate – Cash flows beyond the five-year period are extrapolated using the estimated long-term growth rate applicable for the geographies, with reference to historical economic growth rates. The growth rate asumed for the current financial year was 2.2%. (b) discount rate – The discount rate is based on a Weighted Average Cost of Capital (WACC) for comparable companies operating in similar markets and geographies as the Group as the base discount rate. The pre-tax discount rate asumed for the current financial year was 12.8%. The Group has performed sensitivity analysis around the base assumptions and has concluded that no reasonable possible changes in key assumptions would cause the recoverable amount to be less than the carrying value. 13. TATA CONSULTANCY SERVICES LIMITED Goodwill represents the cost of acquired business as established at the date of acquisition of the business in excess of the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities less accumulated impairment losses, if any. Goodwill is tested for impairment annually or when events or circumstances indicate that the implied fair value of goodwill is less than its carrying amount. Intangible assets purchased including acquired in business combination, are measured at cost as at the date of acquisition, as applicable, less accumulated amortisation and accumulated impairment, if any. Intangible assets are amortised on a straight line basis over the period of its economic useful life. Intangible assets consist of acquired contract rights, rights under licensing agreement and software licences and customer-related intangibles. Following table summarises the nature of intangibles and their estimated useful lives: Type of asset Useful lives Acquired contract rights 3-12 years Rights under licensing agreement and software licences Lower of licence period and 2-5 years Customer-related intangibles 3 years Notes to Accounts 6) Goodwill Goodwill consist of the following: (` crore) As at March 31, 2019 As at March 31, 2018 Balance at the beginning of the year 1,745 1,597 Additional amount recognised from business combination during the year 14 - Translation exchange difference (59) 148 Balance at the end of the year 1,700 1,745 The Group tests goodwill annually for impairment. Goodwill of ` 594 crore and ` 618 crore as at March 31, 2019 and 2018, respectively, has been allocated to the TCS business in France. The estimated value-in-use of this CGU is based on the future cash flows using a 1.50% annual growth rate for periods subsequent to the forecast period of 5 years and discount rate of 10.77%. An analysis of the sensitivity of the computation to a change in key parameters (operating margin, discount rates and long term average growth rate), based on reasonable assumptions, did not identify any

|467| Chap. 19 – Ind AS 38 – Intangible Assets probable scenario in which the recoverable amount of the CGU would decrease below its carrying amount. The remaining amount of goodwill of ` 1,106 crore and ` 1,127 crore as at March 31, 2019 and 2018, respectively,y(relating to different CGUs individually immaterial) has been evaluated based on the cash flow forecasts of the related CGUs and the recoverable amounts of these CGUs exceeded their carrying amounts. 7) Other intangible assets Intangible assets consist of the following: (` crore) Acquired contract rights Rights under licensing agreement and software licences Customer related intangibles Total Cost as at April 1, 2018 369 80 89 538 Additions - 178 - 178 Acquisition through a business combination - - 28 28 Translation exchange difference 3 (2) (2) (1) Cost as at March 31, 2019 372 256 115 743 Accumulated amortisation as at April 1, 2018 (369) (68) (89) (526) Amortisation for the year - (35) (4) (39) Translation exchange difference (3) 1 3 1 Accumulated amortisation as at March 31, 2019 (372) (102) (90) (564) Net carrying amount as at March 31, 2019 - 154 25 179 (` crore) Acquired contract right Rights under licensing agreement and software licences Customerrelated intangibles Total Cost as at April 1, 2017 339 80 81 500 Translation exchange difference 30 - 8 38 Cost as at March 31, 2018 369 80 89 538 Accumulated amortisation as at April 1, 2017 (311) (61) (81) (453) Amortisation for the year (30) (7) - (37) Translation exchange difference (28) - (8) (36) Accumulated amortisation as at March 31, 2018 (369) (68) (89) (526) Net carrying amount as at March 31, 2018 - 12 - 12 The estimated amortisation for the years subsequent to March 31, 2019 is as follows: (` crore) Year ending March 31, Amortisation expense 2020 59 2021 54 2022 50 2023 16 2024 - Thereafter - 179

|468| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 14. THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED a) Key Accounting Estimates and Judgments Useful Lives of Intangible Assets Management reviews the useful lives of at least once a year. Such lives are dependent upon an assessment of both the technical lives of the assets and also their likely economic lives based on various internal and external factors including relative efficiency and operating costs. Accordingly, depreciable lives are reviewed annually using the best information available to the Management. b) Significant Accounting Policies Intangible Assets Intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any. Amortization is recognized on a straight-line basis over their estimated useful lives. Intangible assets acquired in a business combination and recognized separately from goodwill are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortization and accumulated impairment losses. An intangible asset is de-recognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from de-recognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, is recognized in Consolidated Statement of Profit and Loss when the asset is de-recognized. The useful lives of intangible assets are assessed as either finite or indefinite. Finite-life intangible assets are amortized on a straight-line basis over the period of their expected useful lives. Estimated useful lives of the finite-life intangible assets are as follows: Asset Useful Life Computer Software 5 years Technical know-how 10 years An intangible asset having indefinite useful life is not amortized but is tested for impairment annually. Indefinite life intangibles mainly consist of brands/trademarks. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues, if not, it is impaired or changed prospectively basis revised estimates. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. c) Impairment of Intangible assets other than Goodwill At the end of each reporting period, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified. Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

|469| Chap. 19 – Ind AS 38 – Intangible Assets If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than it’s carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in Consolidated Statement of Profit and Loss. When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed. Notes to Accounts 6a. Goodwill (` in Crores) Particulars Buildings I. Gross Block Balance as at April 1, 2017 - Additions - Disposals - Adjustments - Balance as at March 31, 2018 - On acquisition of Subsidiary 92.39 Disposals - Adjustments - Balance as at March 31, 2019 92.39 II. Accumulated amortisation Balance as at April 1, 2017 - Amortisation expense - Disposals - Balance as at March 31, 2018 - Impairment 92.39 Disposals - Balance as at March 31, 2019 92.39 III. Net block (I-II) - Balance as at March 31, 2019 - Balance as at March 31, 2018 - 6b. Intangible Assets (` in Crores) Particulars Software Technical Know how Total I. Gross Block Balance as at April 1, 2017 1.26 0.63 1.89 Additions 0.02 - 0.02 Disposals (0.09) - (0.09) Adjustments (0.04) - (0.04)

|470| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (` in Crores) Particulars Software Technical Know how Total Balance as at March 31, 2018 1.15 0.63 1.78 Additions 0.23 - 0.23 Disposals - - - Adjustments - - - Balance as at March 31, 2019 1.38 0.63 2.01 II. Accumulated amortisation Balance as at April 1, 2017 0.86 0.42 1.28 Amortisation expense 0.27 0.21 0.48 Disposals (0.09) - (0.09) Balance as at March 31, 2018 1.04 0.63 1.67 Amortisation expense 0.13 - 0.13 Disposals - - - Balance as at March 31, 2019 1.17 0.63 1.80 III. Net block (I-II) Balance as at March 31, 2019 0.21 - 0.21 Balance as at March 31, 2018 0.11 - 0.11 ll

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